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EBay Reports Higher 4Q Earnings, Revenue

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A sign outside EBay headquarters in San Jose. (AP)

SAN JOSE (CBS/AP) – EBay said its net income grew in the fourth quarter, helped by a gain on the sale of its remaining investment in Skype and higher revenue.

The e-commerce and online payments company said Wednesday that it earned $1.98 billion, or $1.51 per share in the October-December quarter. That’s up from $559 million, or 42 cents per share, in the same period a year earlier.

Revenue grew 35 percent to $3.38 billion from $2.5 billion.

Excluding special items, eBay Inc. said it earned 60 cents per share.

Analysts polled by FactSet expected earnings of 57 cents per share on revenue of $3.32 billion.

San Jose-based eBay is forecasting adjusted earnings of 50 cents to 51 cents per share in the first quarter. That’s below Wall Street’s expectations of 54 cents.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

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